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Notes
Annuity Notes
Plan
1 Creation
[10] continued
exacting a fee to such or such an amount
in the exchange, and for appointing such or
such a penalty (suppose suspension of the
interest) in case of non-compliance with such
summons. If Should the currency in question
sho have made forced its way into the distant dependencies to any such an effect
of the empire, here again would
arise a demand for further powers for proportiancy
the time allowed for obedience to
the magnitude of the distance.
The Bank possess
no such
powers — but
the case does
not apply
From time to time The Bank Of England has a are need to call
in as the phrase is such and such portions of their currency,
but the mass what is done is very different passes on these occasion
from what it is has proposed to the exercise of
any such powers as it is here proposed to place
in the hands of Government. What the Bank
does, extends not — cannot extend — beyond
simple invitation. They can not say to the
holder of one of their Notes if you do not
bring in your note for payment by such or
such a time you shall not be paid at all:
for by the very tenor of the deman engagement
such note being payable on demand — that
is payable at what time soever the holder
shall think proper to demand it, the time
he keeps it the note before he makes such demand
may be as short a time or as long a time
as he thinks fit.